By Wendy Van Sickle
Columbus, Ohio, June 12 – Barclays Bank plc priced $1.2 million of phoenix autocallable notes due June 8, 2021 linked to the least performing of the common stocks of Starbucks Corp. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call valuation date after one year.
The payout at maturity will be par unless any underlying asset finishes below its 70% trigger level, in which case investors will be exposed to any losses of the worst performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying assets: | Starbucks Corp. and Walt Disney Co.
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| Amount: | $1.2 million
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| Maturity: | June 8, 2021
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| Coupon: | 8.25% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any asset finishes below 70% trigger, in which case 1% loss per 1% decline of the worst performing stock
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly call valuation date after one year
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| Initial levels: | $57.07 for Starbucks and $100.24 for Disney
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| Coupon barriers: | $39.95 for Starbucks and $70.17 for Disney, 70% of initial levels
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| Trigger levels: | $39.95 for Starbucks and $70.17 for Disney, 70% of initial levels
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| Pricing date: | June 4
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| Settlement date: | June 7
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| Agent: | Barclays
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| Fees: | 2.85%
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| Cusip: | 06746XE90
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